Long-Term Savings

[R1986]

How do you manage your savings themselves over time? I'm thinking of savings that you put into funds like retirement accounts versus those savings that you may have been accumulating just in order to spend them on a vacation or travel, etc.

Is there a good system where your savings themselves should be divided into money that can be spent and money that should just not be touched period?

[Azrael]

I’m not thinking of long-term savings yet. I think that’s way out of my concern as of this now. I’m just beginning on earning online. Maybe I will be thinking about it, if I have enough money to spend. For now, I will just have to spend them on buying out a few things for me.

[brandon05]

Honestly our IRA is through my husband's place of employment. So it comes right out of his check so we don't see that. I have not saved for a vacation in so long that I don't know how I would even fit it in at the moment.

[katharina]

Reading this reminded me *again* that I still haven't set paperwork in motion for a 401K. I really hate when I procrastinate on things! I need to find out a few things about it, but I had it planned for 01 Jan and here we're into March already tomorrow!

[Marie]

Yeah, I'll be joining a 401K at work this year, so I won't even see that. Once my student loan is paid off, I plan to set aside the money that was going to that into a savings account that I have. It's online and the headquarters is in another state, so it'll be hard to just get into it when I would rather have pizza than cook.

[Tony]

Be sure you are debt free except your mortgage and have 3 to 6 months of expenses in an emergency fund.After this, then you can focus on investing, retirement, or saving for vacation, car etc.......

Tony